Asked by Kokie, Cleveland, OH • Mon Aug 4, 2008
We are currently working with a builder. They have a deal that if you build through them, they will pay for the construction and have an onsite realtor to help you sell your existing home. Then, if our house doesn't sell by the time the new house is done, they have agreed to buy it from us for whatever our mortage is worth. This would give us 4-5 months to try and sell it through their realtor and make a little money on it.
This seems like a pretty good deal to us. We have been in our current home for about 3 years and don't have a ton of equity built up, so I feel like we'd be lucky to be able to get anything for it above what our mortage is worth after realtor fees, etc.
Any thoughts on this, good or bad? Any questions I should be asking that I haven't already?
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